Friday, March 21, 2008

Freeport's Congo project to be renegotiated

The Democratic Republic of Congo's mines contract review commission yesterday recommended renegotiating the partnership agreement with Phoenix-based Freeport-McMoRan Copper & Gold Inc. for the Tenke Fungurume copper/cobalt project.

Freeport says the Tenke Fungurume project is one of the world's biggest copper and cobalt deposits. [right: orebody in adit. below, deposit area. Tenke Mining Co.]

The Congo review said, "The commission believes there is justification for renegotiating this partnership."

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